Spotlight

Indian equity markets are expected to remain range-bound with a cautious bias as persistent geopolitical tensions in the Middle East continue to restrain risk appetite. Ongoing disruptions to regional shipping, Iran's assertion that the Strait of Hormuz remains under its control, and renewed Israeli strikes in Lebanon have heightened concerns over further escalation and prolonged disruptions to global energy and trade routes.
 
WTI crude oil remains elevated but relatively stable around the $82 per barrel mark. Meanwhile, gold is holding steady near $4,400 as investors assess incoming U.S. economic data and expectations around the Federal Reserve’s monetary-policy path.

The minutes of the Federal Reserve's July policy meeting, due on Wednesday, will be a key focus for global markets. Investors will look for greater clarity on the extent of the policy divide within the FOMC and any signals on the Fed's September policy outlook, with implications for U.S. Treasury yields, the dollar, and capital flows into emerging markets.  

Technical Views

Nifty 50

Nifty 50 is likely to remain under pressure at higher levels, with the broader technical picture staying cautious in the wake of recent weakness. Repeated bouts of selling near elevated levels point to a lack of sustained buying conviction from the bulls. On the upside, 24,500–24,600 stands as the key resistance zone; clearing 24,600 decisively is the prerequisite for any meaningful improvement in sentiment, with a move above this level opening the door to the 24,800–25,000 range.
 
On the support side, 24,250–24,300 emerges as the critical zone to watch. Holding this band is essential to avert deeper weakness and keep the current range-bound setup intact. A decisive break below 24,250, however, could accelerate selling pressure pulling the index down toward the psychologically important 24,000 mark.  Overall the near-term stance remains cautious.

Bank Nifty

Bank Nifty is likely to stay within a defined range, contingent on the index holding above the 57,400–57,500 support band. On the upside, 57,800–58,000 emerges as the key resistance zone; a decisive breakout beyond 58,000 would strengthen buying interest and open the path toward the 58,300–58,500 region.
 
On the downside, immediate support is placed at 57,500, with a secondary cushion at 57,200–57,000. Maintaining levels above 57,400 remains essential to preserve the ongoing recovery structure, whereas a confirmed break below 57,200 could trigger renewed profit-booking and weaken the near-term outlook. Overall, the near-term outlook remains cautious, with 58,000 acting as the key upside trigger and 57,400–57,200 serving as the crucial support zone.